AGM Statement

29 April 2016

For Immediate Release

Anglo African Agriculture plc

(“AAA” or the “Company”)

AGM Statement

AAA, the main market listed company involved in the cultivation, manufacture, import and distribution of herbs, spices and seasonings and guar beans, is pleased to announce that at its AGM held today, all resolutions, details of which were set out in the Notice of AGM dated 6 April 2016, were duly passed.

Neil Herbert, Non Executive Chairman of the Company commented at the meeting:

“This year is an exciting one for our wholly owned spice and seasonings business following its relocation to a fully certified facility in Cape Town.   New management is expanding both the client base and enhancing the range of products with the objective of boosting sales growth and profitability.  We look forward to reporting results as the year continues.”

At the Board meeting held prior to the AGM certain remuneration issues were also agreed to recognise work done in the past 3 years but also to align with the model of the group currently being installed by the new management

Each Director (Neil Herbert, Andrew Monk and George Roach) has been awarded 2,000,000 options exercisable at any time prior to 5 September 2022 at 0.55p per share.  In addition, Neil Herbert has been awarded 1,839,046 options exercisable at any time prior to 5 September 2022 at 1p per share.  The options are equivalent to the options that he had relinquished when he left the Board previously.

Mark Neilson the Chief Executive of the Company’s subsidiary company, Dynamic Intertrade, has been awarded 3,000,000 options.  1,000,000 are exercisable at 0.55p per share, 1,000,000,00 at 1p and 1,000,000 at 1.5p.  Rob Scott, a Non Executive Director of Dynamic Intertrade, has been awarded I,000,000 options exercisable at 1p.  All these options are exercisable exercisable at any time prior to 5 September 2022.

In addition, because the directors have received no remuneration since the formation of the Company, it has been decided that Director remuneration should be fixed at GBP12,000pa for each director. 

For further information please contact:

Anglo African Agriculture plc	[phone]
Neil Herbert, Non-Executive Chairman
VSA Capital Limited (Financial Adviser)	[phone]
Andrew Raca